Lionsgate will be the key tenant with naming rights to a major new studio project in Newark, New Jersey being built being by Robert Halmi and Fehmi Zeko’s Great Point Studios.The $125 million+ project on 12 acres follows a collaboration by the partners on recently opened Lionsgate Studios in Yonkers as demand for production space continues to explode.
It will be first purpose-built studio in the state specifically constructed for TV and film production and is expected to start operations in late 2004.“This is a great opportunity to scale our East Coast studio footprint [and] support our robust film and television production,” said Lionsgate CEO Jon Feltheimer.
The studio had 14 new TV shows picked up to series last year and 16 series renewed, and made 21 feature films last year, underscoring its need for more space — an issue across the industry.This studio will rise in Newark’s South Ward at the former Seth Boyden Housing site close to the Newark Airport, the Port of Newark, NJ Transit, the PATH train system and several major highways.
Partner the New Jersey Performing Arts Center will manage public affairs and community relations including programs and internships for local high school and college studentsThe facility will be owned by a joint venture between Great Point Studios, a studio investment and management business, and its institutional partner, an affiliate of private investment firm Lindsay Goldberg.
Read more on deadline.com
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